BANGALORE, India, Aug. 17, 2020 /PRNewswire/ -- The major factors driving the growth of LPWAN market size are the growing adoption of IoT / M2M devices, rising need for long-range communication between these devices, and low power and low cost of LPWAN technologies.
In 2018, the global Low Power Wide Area Network (LPWAN) market size was USD 440 Million, and it is expected to reach USD 6440 Million by the end of 2025, with a CAGR of 46.5% during 2019-2025.
This report focuses on the status, future outlook, growth potential, key market, and key players of the global Low Power Large Area Network (LPWAN). The aims of the study are to present the implementation of the Low Power Wide Area Network (LPWAN) in the United States, Europe, and China.
TRENDS INFLUENCING THE LOW POWER WIDE AREA NETWORK MARKET SIZE
Large-scale roll-outs in various parts of the world are increasingly driving the tremendous growth of the LPWAN industry. For instance, NICIGAS retrofits 850,000 meters of gas with Sigfox connectivity in Japan. In France, Birdz, which already operates 400,000 LoRa-connected smart meters in Lyon, announced over the next ten years it will connect over 3 million smart water meters to the Public LoRaWAN network. In China, NB-IoT tracks nearly 1 million electric bikes in Zhengzhou and monitors 170,000 wired smoke detection and warning systems in rental homes in the Hangzhou Yuhang district.
Increasing industrial IoT (IIoT) penetration in the manufacturing sector has increased the demand for LPWA technologies, in particular NB-IoT and LTE-M, to allow reliable machine-to-machine communication. This factor is expected to increase the low power wide area network market size during the forecast period.
Another factor fueling the Low Power Wide Area Network market's growth is increasing investment in LPWA technologies by companies. Manufacturing companies can increase their operating efficiencies by installing LPWAN connections to drive high productivity.
Worldwide, network operators are implementing both licensed and unlicensed LPWAN models, such as NB-IoT, LoRa, and Sigfox, to help devices that need to transmit fewer data over a wide region while retaining battery life. This factor is further expected to fuel the growth of the Low Power Wide Area Network Market size during the forecast period.
Satellite communications will play an ever more important role in the future of the LPWAN market. Today, most market-based satellite IoT solutions use satellite communication as a backhauling solution, where end-devices communicate with a terrestrial gateway, providing internet access through a satellite link. However, in the LPWAN market, different players go beyond that and work to allow direct communication between terrestrial devices and nano-satellite-based gateways and provide mobility for global devices without the need for terrestrial gateways.
LOW POWER WIDE AREA NETWORK MARKET SHARE
Europe is expected to hold the largest Low Power Wide Area Network Market share. The dominance of the European region is attributed to the technological advancements and increased adoption of connected devices across various industry verticals.
Asia-Pacific is expected to witness the highest CAGR during the forecast period. The major factor driving the growth of the Low Power Wide Area Network Market size in this region is the rapid adoption of LPWAN technologies in China. The local government in China strongly supports the adoption of IoT technology, which has stimulated the development of a strong local ecosystem and encouraged a faster adoption of these technologies compared to the rest of the world.
LOW POWER WIDE AREA NETWORK MARKET SEGMENTATION
Market segment by Regions/Countries, this report covers
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Market segment by Type, the product can be split into
Market segment by Application, split into
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The global Narrowband IoT (NB-IoT) market size is projected to reach USD 31925.6 Million by 2026, from USD 992 Million in 2019, at a CAGR of 64.2% during 2020-2026.
Asset tracking is expected to be the fastest-growing market on the NB-IoT smart application market, as wireless asset monitoring, sensing, and product control will provide round-the-clock visibility of asset status in the supply chain.
To achieve a competitive advantage, businesses operating on the global LoRaWAN LoRa Module market concentrate on mergers, acquisitions, and new product releases. The study analyzes Growth Strategies implemented by these organizations are analyzed in depth. The report also includes several valuable information, derived from various industrial sources, on the LoRaWAN LoRa Module market.
In 2019, the global SD WAN market size was USD 800 Million, and it is expected to reach USD 4.137 Billion by the end of 2026, with a CAGR of 26.2% during 2021-2026.
The cloud segment is expected to have the largest market share in SD-WAN. The ongoing cloud migration will drive the adoption of SD-WAN further.
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